Showing posts from October, 2019

Mortgage Rates at 12-Week Record

David Deem 714-997-3486
In the past week, the average 30-year fixed mortgage rate rose to 3.75 percent, its highest point in 12 weeks, according to Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®).

"The outlook for a favorable resolution to the trade dispute between the U.S. and China is still unclear, introducing some volatility into financial markets and the benchmark 10-year Treasury yield," Sam Khater, chief economist at Freddie Mac, says. "Mortgage rates are following suit but are at near-historic lows, while mortgage applications to purchase a home remain higher year-over-year."

30-Year Fixed
Averaging 3.75 percent, with an average 0.5 point
Up from 3.69 percent the prior week, but down from 4.86 percent the prior year

15-Year Fixed
Averaging 3.18 percent, with an average 0.5 point
Up from 3.15 percent the prior week, but down from 4.29 percent the prior year

5-Year Adjustable
Averaging 3.4 percent, with an average 0.3 point
Up fr…

2020 Housing Market: What the Experts Think

David Deem 714-997-3486

By Suzanne De Vita


Everyone felt it at the start of the year—conditions leveling, the market yin and yanging. About half of Power Brokers sensed it, too—that the current cycle's ending, and a different dynamic's emerging.

Now, with two months left in 2019, the consensus is similar…but certain factors remain unclear.

"The housing market is in the midst of a normalization period, one that is characterized by slowing price growth, moderate sales and new supply that is slow to market," according to Ralph McLaughlin, deputy chief economist and executive of Research and Insights at CoreLogic, a data provider.

As the cycle turns, the correction is naturally progressing, Eli Beracha, PhD, director of Florida International University's Hollo School of Real Estate, says.

"We are toward the end of the cycle—but I do not see a collapse coming, or even a strong correction," Beracha explains.

Beracha, along with Bill Ha…

How to Prepare for Making an Offer on a House

David Deem 714-997-3486

So you’ve found the perfect house and you’re ready to move forward and make an offer. The number you put forth is one of the most important decisions you’ll make in the entire home-buying process, so before you make that offer, be sure to consider the following:

You might not be the only bidder. Chances are, especially if you’re in a hot market, or simply on a desirable street in a particular neighborhood, that there will be a competing bid or two on the home. If that’s the case, before you raise your offer, dig deep and decide what this home means to you. If this is truly THE house for you, then go ahead and raise your bid if you can afford to.

Consider writing a letter. While not effective in every situation, sometimes a personal letter to the seller can help make your offer more attractive. Talk to your real estate agent to find out if the seller has a particularly strong emotional attachment to the home, in which case, a letter describing why …

Don’t Neglect Your Fall Landscape

David Deem 714-997-3486
Even though peak gardening season has passed in many areas of the country, the fall months are an opportune time to get creative in your yard and set the stage for next season’s blooms. Try these suggestions from the National Association of Landscape Professionals (NALP).

Choose Texture Over Flowers
While bountiful summer blooms may have long gone, add interest to your garden, planters and window boxes with a variety of interesting textures. Traditional fall mums and asters are always a good, colorful choice, and try mixing them with ornamental kales, cabbage and peppers. A variety of grasses will add shape and drama to your landscape, and many will last long into the winter months. NALP also recommends succulents, which are a great outdoor option in many climates where they’ll happily grow all year long.

Add Depth With Jewel Tones
Spring may be the time for soft pastels, and summer for bright bolds, but fall is the time for regal jewel tones. Add…

10 Tips for Buying Rental Property

David Deem 714-997-3486

By James Royal

(TNS)—If you've been watching reruns of HGTV's "Income Property" and wondering if it's time to buy a rental property and become a landlord, you're not alone.

Between our slow-growth economy, historically low interest rates and the mood of millennials to rent instead of own, income property has been on an uptick since the Great Recession.

In fact, real estate is now Americans' favorite long-term investment, according to a recent Bankrate study. The popularity of real estate is at its highest point since Bankrate started the survey seven years ago.

Should you take the plunge on a rental property? Experts offer a qualified yes, provided you do your homework first. Here are 10 things to consider before diving into income property.

1. It's not as easy as it looks.
Forget the TV sitcom stereotypes of clueless landlords. To make the most of income property requires an accountant's eye for detail, a la…

Favorable Mortgage Rates This Week

David Deem 714-997-3486

The average 30-year, fixed mortgage rate stood at 3.65 percent this week, according to Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®).

30-Year Fixed
Averaging 3.65 percent, with an average 0.6 point
Up from 3.64 percent the prior week, but down from 4.71 percent the prior year 

15-Year Fixed
Averaging 3.14 percent, with an average 0.5 point
Down from 3.16 percent the prior week and 4.15 percent the prior year 

5-Year Adjustable
Averaging 3.38 percent, with an average 0.4 point
No change from the prior week, but down from 4.01 percent the prior year 

"While mortgage rates generally held steady this week, overall mortgage demand remained very strong, rising over 50 percent from a year ago thanks to increases in both refinance and purchase mortgage applications," says Sam Khater, Freddie Mac's chief economist. "As economic growth decelerates, it is clear that low mortgage rates will continue to support the mortgage…

Orange County Housing Market Summary: October 8, 2019

David Deem 714-997-3486

•The active listing inventory decreased by 244 homes in the past two-weeks, down 4%, and now totals 6,616. Last year, there were 7,201 homes on the market, 585 more than today.

•Demand, the number of pending sales over the prior month, decreased by 90 pending sales in the past two-weeks, down 4%, and now totals 2,311. Last year, there were 2,055 pending sales, 11% fewer than today.

•The Expected Market Time for all of Orange County remained at 86 days, a slight Seller’s Market (between 60 to 90 days). It was at 105 days last year, a much slower market.

•For homes priced below $750,000, the market is a hot Seller’s Market (less than 60 days) with an expected market time of 56 days. This range represents 38% of the active inventory and 57% of demand.

•For homes priced between $750,000 and $1 million, the expected market time is 75 days, a slight Seller’s Market. This range represents 19% of the active inventory and 22% of demand.

•For homes priced…

Cleaning House: The Ugly Truth

David Deem 714-997-3486

When it comes to housework, it’s not all fun and games. In fact, cleaning chores are a source of conflict for many Americans, according to recent research.

The results of a survey from TaskRabbit conducted in partnership with Wakefield Research revealed that 46 percent of Americans have gotten into an argument with a roommate, friend, family member or significant other over "the right way" to clean things - and a whopping 78 percent have had a fight about household chores in general.

The findings also highlighted that basic household chores are onerous for many Americans. Among the worst offenders? Laundry (31 percent), vacuuming (31 percent), and changing a light bulb (23 percent).

Most surprising, however, was how often we’re arguing about the best way to do things: 27 percent report heated debates about the right way to assemble furniture, and 23 percent are struggling over the best way to fold laundry.

Of course, frustrations also …

3 Reasons Your Listing Isn't Selling

David Deem 714-997-3486

By Mark Mathis, VP of Sales for

While the market is shifting, many still consider it to favor sellers. Luxury property sales have begun to slow, but many affordably-priced homes are still moving quickly.

However, some agents are finding that this isn't the case for them. When a home sits on the market for too long, sellers begin to dread that it will not move at all. If you have a listing that isn't receiving any offers, even in a seller's market, it's time to re-evaluate what's happening and see what you can change. Here are three tips to help you get started.

1. Pricing
Often, the reason a listing isn't moving is due to poor pricing. Setting the right price is one of the most important factors of selling a home. Too often, sellers will set a price based on what they feel their home is worth or what they want from it. This can cause an issue, especially if they're investing emotional value into the home inst…

How to Make Your Neighborhood Safer

David Deem 714-997-3486
A neighborhood’s safety—or lack thereof—isn’t simply a matter of statistics. There are steps you and your neighbors can take to create a safer environment and discourage crime in your surrounding streets. So get proactive and start adopting some of the following habits:

Get to know your neighbors. In today’s society, unfortunately, we tend to keep to ourselves more and more. But keeping the communication flowing between you and your neighbors is an important step toward a safer community.

Spend more time outside. Would-be criminals are deterred by a highly active neighborhood. So spend time gardening and hanging out in your yard, walking the dog, taking bike rides and encouraging the kids to play together outside.

Be discreet at night. Draw the curtains and blinds at night, and dim the lights so that the contents of your home aren’t on full display for potential criminals.

Maintain your yard. A well-kept yard and manicured lawn are also deterrents t…

4 Ways to Stop Mold Growth in Your Home

David Deem 714-997-3486
In addition to being unsightly, mold in your home can cause serious health concerns. According to Perfect Home Services, in sufficient quantities, mold can cause more serious consequences to those exposed. Sick Building Syndrome, ongoing symptoms linked to time spent in a building heavily polluted by bacteria and toxins, is often caused by mold growth. 

"Mold isn't just gross, its hazardous to your health and even your mental health," says Justin Carrol, president of Perfect Home Services. "People that have allergies or respiratory problems may have more obvious reactions to mold, but long exposure can also have a significant effect on your psychological state, causing symptoms such as anxiety, depression, insomnia and brain fog."

Carrol and the Perfect Home Services team says there are four basic things homeowners should pay close attention to when it comes to mold growth and indoor air quality.

Protect your basement. Exc…

Green Thumb 101: Preparing Your Vegetable Garden for Winter

David Deem 714-997-3486

By Rae Steinbach

Just because you've harvested the last of your crops doesn't mean that your work out in the vegetable garden is done. With the season drawing to a close, you need to do some work to prepare your garden for winter.

By doing a little bit of work in the fall, you can protect your garden from some of the effects of the cold weather approaching and prepare your garden beds for a productive spring. Here are some tips for getting your garden ready for next year:

Clean Your Garden Beds
The first step is to clean your garden beds. Start by moving all of the old mulch aside. Pull up any remaining weeds and remove any dead plant material or rotten vegetables. Some pests and plant diseases can live through the winter in any vegetation that is left behind, so it's important to clean the beds and dispose of the weeds and other plant material properly.

Add Some Mulch
Once you've cleared out all of the weeds and unwanted vegetatio…

Consumer Confidence Drifts Lower

David Deem 714-997-3486

Americans' confidence drifted lower in September, according to The Conference Board's Consumer Confidence Index®, which calculates economic and job sentiment. The Index slid to 125.1, down from 134.2 the month prior.

"Consumers were less positive in their assessment of current conditions and their expectations regarding the short-term outlook also weakened," Lynn Franco, senior director of Economic Indicators at The Conference board, said in a statement. "The escalation in trade and tariff tensions in late August appears to have rattled consumers.

"However, this pattern of uncertainty and volatility has persisted for much of the year and it appears confidence is plateauing," Franco said. "While confidence could continue hovering around current levels for months to come, at some point this continued uncertainty will begin to diminish consumers' confidence in the [economic] expansion."

Within the Inde…